Prime Minister: Export credit agency seeks to promote protection of interests of Ukrainian exporter was created

An export credit agency (ECA), the establishment of which is enshrined at the legislative level, should be able to shortly start work, thus to become another effective instrument for the assistance and protection of the interests of the Ukrainian exporter. This was stated by Prime Minister of Ukraine Volodymyr Groysman in the course of the special meeting which was held in the Cabinet of Ministers of Ukraine.

«There is a law that we have to execute. We do not exclude amendments to the legislation designed to improve the working conditions of the agency. Along with that, we have excellent technological solutions, a good product that needs to be promoted in a competitive world where there are many players, including those who are not interested in the Ukrainian product», noted the Prime Minister.

During the meeting, the attendees accentuated the ECA statutory capital, organization structure as well as model of work of the agency - including in the sector of cooperation with state banks are being formed now. The parties agreed that at the initial stage, the authorized capital will be formed at the expense of the budget, thereby funds should be included into the draft budget for 2018. Meanwile, the point at issue is technical assistance of projects, both at the level of advisory services and direct financing of the agency. The model of work of ECA is the subject of discussion with one of the key lenders of Ukraine - the International Monetary Fund. Particular attention is paid to the management of fiscal risks that may arise in the work of the agency, as well as the establishment of a stable structure of ECA.

In the course of the meeting, the Head of Government proposed to engage the Secretariat of the Cabinet of Ministers, headed by the Minister Olexandr Saienko as well as specialists of the Investment Support Office and Committee of industrial Development of Ukraine in the negotiating process.

«All proposals, including budget ones, can be submitted to the next session of the Government for consideration, thus it will allow to concretize the terms of launching the agency and to designate an individual who will be responsible for the process», underscored Volodymyr Groysman.

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